MEPC Offices To Let/ Rent

SCOT Sheridan and MEPC make investment in Glasgow business park

2011-10-13T04:19:00.000-07:00

Two leading UK property development companies have signed deals to invest £14m in Clyde Gateway East business park in the East End of Glasgow.

SCOT Sheridan and MEPC will build respectively, 60,000 sq ft and 140,000 sq feet of industrial units on the site, which has lain undeveloped for almost 40 years. The overall investment is worth £14m and will support 700 jobs in one of the highest unemployment areas of Scotland.

The deals have already been hailed by Alex Neil, the Scottish Government’s infrastructure and capital investment secretary, as the first major spin-off from the opening on June 28 of the completed M74 – which passes within yards of the site, and whose Junction 2a leads directly into the business park.

Clyde Gateway East is a new business park on a long-derelict and brownfield site extending to 36 acres at a location four miles south-east of Glasgow city centre.

It is a strategic development being delivered by Clyde Gateway urban regeneration company, with capacity of approximately 400,000 sq ft of business space.It has planning consent for business, general industrial and storage and distribution uses.

The decision by Clyde Gateway to purchase the site and proceed with the development is linked to the proximity of Junction 2a of the completed M74, which opened on June 28.

The total cost of the final development of Clyde Gateway East has been estimated at £35m, and the Masterplan for the site has identified the potential to accommodate up to 1,350 jobs.

Clyde Gateway purchased the site from Scottish Enterprise in March 2009 and adopted a strategy to remediate and provide the requisite infrastructure with a view to de-risking development opportunities for the private sector. In March 2010, Sir Robert McAlpine was appointed as contractor to deliver these initial works which have been completed to coincide with the M74 extension opening.

The first phase of development was sought through a public procurement exercise and will be delivered by SCOT Sheridan, with MEPC as funding partner. It will involve the construction of 60,000 sq ft of speculative industrial development units in three separate buildings of 17,000 sq ft, 20,000 sq ft and 23,000 sq ft.

A planning application has been lodged, with an anticipated site start of September 2011 and completion by April 2012. This will be the first major speculative new-build development scheme to be undertaken in Scotland for over three years.

In tandem with the public procurement exercise, an approach was made to Clyde Gateway by MEPC to acquire further plots at Clyde Gateway East, capable of accommodating another 140,000 sq ft of industrial units to accommodate bespoke requirements, design and build enquiries and subsequent speculative development.

Clyde Gateway, SCOT Sheridan and MEPC have, in addition, agreed a joint marketing and management strategy for Clyde Gateway East. The marketing agents for the first phase being provided by SCOT Sheridan are Ryden and CBRE, and all parties are encouraged by the early positive responses from the market.

SCOT Sheridan Director David MacLachlan said “We believe that this is one of the best industrial sites in west central Scotland and when combined with the modern, flexible business accommodation we intend to build, will have great appeal for potential tenants. The fact that we are building on a speculative basis shows our strong belief that the site has the potential to attract leading businesses and hundreds of jobs and will play a significant role in the regeneration of the area.”

MEPC CEO Rick de Blaby said: “It’s an important strategic acquisition for us, where we hope to replicate and deliver a modern Hillington Park. The infrastructure that Clyde Gateway has committed to this area of Glasgow is enormous and we are happy to invest alongside that.”

Clyde Gateway’s Executive Director of Development Steve Pritchard said “This investment by is the most important day so far in Clyde Gateway’s three-year history. Our vision and ambition for the area can only be achieved if the private sector is willing to back our judgement and bring investment to the various development opportunities we are delivering to the market. It is highly significant that MEPC and SCOTSheridan, two of the most highly respected and prominent firms in the commercial property industry, are prepared to invest in and take up 50% of the capacity of Clyde Gateway East, the first of what will be many large-scale developments within the East End and in South Lanarkshire, and it really does bode well for the future.”

Clyde Gateway East offers a superb opportunity to link new jobs and investment with the M74.

Further information can be found at www.clydegatewayeast.co.uk

Offices To Let

MEPC completes £470m CMBS refinancing with £168.0m prepayment

2011-10-13T04:18:00.000-07:00

Release of Milton Park completes the refinancing of the MEPC portfolio.

MEPC, the developer and owner of eight Business Estates across the UK, announces that it will complete its CMBS refinancing strategy on 20 July 2011 with a £168.0m prepayment of the £470m loan securitised via Opera Finance (MEPC) plc. This follows the prepayment of £102.5m in January 2011, £74.5m in April 2011 and the recent announcement to prepay £125.0m on 20 July 2011. MEPC will use a combination of cash from recent disposals and equity, alongside a new seven-year facility of £145m from Deutsche Bank.

This final prepayment successfully completes MEPC’s refinancing strategy a full 12 months ahead of the CMBS maturity in 20 July 2012. The CMBS, completed in November 2005 and arranged by Eurohypo AG, was secured against four of MEPC’s Business Estates – Milton Park in Oxfordshire, Birchwood Park in Warrington, Chineham Park in Basingstoke and Hillington Park in Glasgow.

Rick de Blaby, Chief Executive of MEPC, said, “It is very satisfying to have now refinanced the whole of the £470m CMBS Notes a year ahead of maturity. We have secured the amounts, the terms and the diversity of debt we set out to achieve from banks with whom we have valued relationships. This serves as a very positive endorsement of our strategy, our assets and our management.”

MEPC was advised by Berwin Leighton Paisner LLP on the refinancing of Milton Park, the part repayment of the CMBS transaction.and the associated corporate restructuring. The teams at MEPC and BLP have worked closely together since 2005 when the fund was originally established and more recently on the successful implementation of the full refinancing of the CMBS and overall restructuring of the fund.

MEPC was advised by J.C.Rathbone Associates in identifying an appropriate refinancing strategy to replace the CMBS and in executing the new debt facilities. Caroline Snowden, Head of Structured Finance, JCRA, commented, “We are pleased to have assisted in identifying new lenders for MEPC and in securing four new debt facilities in line with the identified strategy.”

MEPC prepays £74.5m of £470m CMBS in second stage of refinancing

2011-05-18T03:40:00.000-07:00

Pro-active re-financing reduces gearing and positions MEPC for future activity.

MEPC, the developer and owner of eight Business Estates across the UK, announced today that it will prepay £74.5m of the £470m loan securitised via Opera Finance (MEPC) plc, on the next interest payment date on 20 April 2011, in advance of maturity in July 2012. This follows the first stage prepayment of £102.5m in January 2011. The CMBS, completed in November 2005 and arranged by Eurohypo AG, was secured against four of MEPC’s Business Estates - Milton Park in Oxfordshire, Birchwood Park in Warrington, Chineham Park in Basingstoke and Hillington Park in Glasgow.

This prepayment, which follows the Birchwood refinancing in January, is the second stage of a wider financing strategy to address the early repayment of the securitised loan before its maturity in July 2012.

As a consequence of this prepayment, Hillington Park will be released from the securitisation. MEPC will use a combination of cash from recent disposals and equity, alongside a new five year facility of £53.6m from Eurohypo.

As a result of the prepayment, the CMBS loan outstanding reduces to £293m, secured against Milton Park and Chineham Park and the interest cover on the remaining debt will increase to 230%.

Rick de Blaby, Chief Executive of MEPC, said ‘This early repayment of part of MEPC’s CMBS Notes marks a second stage in our programme to address the refinancing of our portfolio ahead of maturity after the successful repayment of £102.5m in January. The new loan, again with Eurohypo, whose long term relationship we hugely value, reduces gearing and brings in further diversity to our overall debt position. It also underlines MEPC’s prudent debt strategy, the robustness of its income from quality assets and our overall desire to be positioned well for a new phase of activity and performance.’

Michael Acratopulo, Head of Origination at Eurohypo commented, ‘Following on from the success of the Birchwood Park refinancing we are pleased to have once again assisted MEPC in their funding strategy by providing a further facility for Hillington Park. We are delighted to be broadening our relationship with MEPC.’

Caroline Philips, Head of Structured Debt at Eurohypo observed, ‘MEPC’s continued pro-active management of their debt marks another important step in the refinancing of the Opera MEPC CMBS issue.’

Governor Deval Patrick visits Granta Park

2011-03-25T03:17:00.000-07:00

As part of the Massachusetts Innovation Economy Partnership Mission 2011, Governor Deval Patrick today visited MEPC's Granta Park to discuss plans to cultivate new investment and partnerships between the Massachusetts and UK life sciences sectors.

Governor Deval Patrick

MEPC PREPAYS £102M OF £470M CMBS

2010-12-16T05:35:00.000-08:00

Proactive re-financing reduces gearing and positions MEPC for future activity.

MEPC, the developer and owner of eight Business Estates across the UK, announced today that it will prepay £102m of the £470m loan securitised via Opera Finance (MEPC) plc, on the next interest payment date on 20 January 2011, in advance of maturity in July 2012. The CMBS, completed in November 2005 and arranged by Eurohypo AG, is secured against four of MEPC’s business parks - Milton Park in Oxfordshire, Birchwood Park in Warrington, Chineham Park in Basingstoke and Hillington Park in Glasgow, currently valued at £619m.

This prepayment is part of a wider financing strategy to address the early repayment of the securitised loan before its maturity in July 2012.

As a consequence of this prepayment, Birchwood Park will be released from the securitisation. MEPC will use a combination of cash from recent disposals alongside a new five year facility of £62m from Eurohypo AG secured against Birchwood Park to repay the £102m of the £470m CMBS.

As a result of the prepayment the loan to value ratio of the securitised loan reduces to 74%, and interest cover remains at 192%.

Rick de Blaby, Chief Executive of MEPC said; “MEPC’s early repayment of part of the CMBS Notes underscores both the company’s robust financial position and prudent debt management strategy. It was always our intention to proactively address the refinancing ahead of maturity, reduce the gearing and position ourselves for a new phase of activity and performance. Our valued long term relationship with Eurohypo is important in those aims.’

Michael Acratopulo, Head of Origination at Eurohypo commented, ‘The new bank debt facility for Birchwood Park is a good quality asset for Eurohypo and also assists MEPC in their refinancing strategy. We are delighted to be working with an existing client in this way.’

Caroline Philips, Head of Structured Debt at Eurohypo observed, ‘MEPC’s pro-active management of their debt marks an important step in the refinancing of the Opera MEPC CMBS issue, and underlines the quality of the Opera platform.’

MEPC wins Best Commercial Property

2010-12-16T05:34:00.000-08:00

MEPC is delighted to have won ‘Best Commercial Property’ for Chineham Park at the Hermes Responsible Property Investment 2010 Awards.

Rick de Blaby comments ‘We are dedicated to enhancing the value of sustainability and this award demonstrates our skills as a leading Property Manager within the UK’

MEPC Launch MEPC TV

2010-07-30T02:53:00.000-07:00

Today sees the launch of MEPC TV, providing a platform for the showcase of our activities on and around our eight business and science parks via a video portal.

Rick de Blaby, Chief Executive of MEPC comments “We are always looking for new ways to engage with people, MEPC TV is a new and exciting concept that allows us to really showcase what we do every day on our Estates”.

MEPC TV

MEPC Wins Estates Gazette Regional Award!

2010-07-21T01:46:00.001-07:00

We are delighted to announce that MEPC has been recognised by its peers as a leader in its field by scooping the Estates Gazette Regional Awards for Property Company of the Year (London and South East).

Rick de Blaby, Chief Executive, comments 'This award demonstrates MEPC's commitment to providing Great Estates throughout the UK, accommodating more than 1,000 organisations, employing 20,000 people'.

Small Offices To Let

2009-12-14T06:57:00.000-08:00

MEPC currently have a number of small offices to let across the uk including:

Elmwood at Chineham Park, Basingstoke:

Ideal for companies with 10-50 employees
Flexible leasing packages with no hidden extras
Onsite business support
Access to NVQ training

Designed to support businesses employing up to 50 people, the Elmwood complex at MEPC’s Chineham Park Estate is the perfect place for SMEs to grow.

Newton House at Birchwood Park, Warrington:

If you're looking for small, budget office accommodation in Cheshire. If your business is just starting out or simply in need of a more flexible approach to office space. Then maybe we can help. Here at Birchwood Park, Warrington we understand the needs of small business and can help you find the ideal small/budget offices to let with a great specification:

Range of offices from 121 sq ft (1-2 people) to 450 sq ft (4-5 people)
On-site building manager
Help desk
24 hour access
On-site security with 24 hour CCTV
Flexible parking options
Quality refurbished offices
2 compartment perimeter trunking
Showers and shared kitchens
Window blinds
Fully carpeted throughout
Great location here in Warrington, Cheshire

The Riverside at Granta Park, Cambridge
Riverside is a development within Granta Park, specifically designed by MEPC to provide flexible office and laboratory space for companies that have either passed the start-up stage or want to streamline their business.

The Science Park is conveniently located within easy reach of the city centre, Cambridge University, the Laboratory of Molecular Biology, and Addenbrooke's. Local road networks make it a hassle-free commute from the surrounding areas, and key motorway arteries put Stansted Airport and the City of London all within easy reach.

MEPC wins sustainable business of the year again!

2009-12-14T06:55:00.000-08:00

MEPC Chineham Park has won the Sustainable Business of the Year award at Basingstoke and Deane’s Inspire 09 business awards for the second year running.

Rupert Batho, managing director for MEPC Chineham Park, said: “It is a great honour to win such a prestigious award twice in a row. This award reflects the hard work of MEPC. None of this would have an impact without our occupiers who catch the coaches, segregate their waste when recycling and help us protect the environment, so this is their award to”.

MEPC wins at Hermes RPI awards!

2009-11-18T08:27:00.000-08:00

MEPC is delighted to have been recognised by Hermes at their annual Responsible Property Investment Awards on the 7th November as Best Improver Property Manager of the Year.

MEPC beat off fierce competition to secure this win and believe this award reflects the dedication put in by the team to achieve the Company wide sustainability targets.

Commercial property to recover 2010

2009-10-16T05:18:00.000-07:00

BNP Paribas Real Estate is determined that UK commercial property sector will start its slow yet sustainable recovery next year, according to Mr. Keith Steventon, company’s head of research, who made a speech at BNP Paribas Real Estate economic forecast seminar held in Cardiff, Wales.
He highlighted that the major factor affecting the commercial property sector is UK retail rents, which are under the influence of UK household incomes. As household incomes, according to forecasts, are expected to fall in 2011 and to grow in 2012, the commercial property sector is to follow the same trend. Thus, Mr. Steventon expects retail rents to fall by 10% and 5.8% in 2009 and 2010 respectively and then to rise by 1.2% and 6.8% in 2011 and 2012 respectively. His forecast for the offices sector is as follows: 4.8% and 3.6% decline in 2009 and 2010 respectively followed by 1.4%, 1.9%, and 6.4% growth in 2011, 2012, and 2013 respectively.
Mr. Steventon is determined that rent rates for prime properties will recover more quickly as there are few prime commercial properties developed in Wales. Meanwhile, logistics occupier market rent rates will take longer to recover as a result of bigger void rates.
At the moment, falling rent rates in Wales are having a negative effect on capital values, which fact results in further declines in property values. As such, capital values of properties in the industrial sector fell by 6.4%, while retail and offices sectors saw declines of 6.3% and 5.3% accordingly.
The good news is that the capital values in all commercial property sectors are to recover in 2010, according to the national forecast. The industrial sector is said to see a rise of 8.7%, offices sector – 7.3%, and retail sector – 4.7% in 2010.

Offices to Let

Offices To Let & Rent

2009-09-16T05:00:00.000-07:00

MEPC business parks and science parks are located throughout the UK and currenlty have a number of offices to let/rent. If you're look for office space then click on the link and see if we have the ideal office for your needs.

Offices To Let / Rent

Industrial Estates

2009-09-16T04:58:00.000-07:00

MEPC have a number of industrial estates located across the UK. If you are looking for industrial units, warehousing or storage facilities then click the link and take a look at what we can offer.

Industrial Estates

Sustainable Business Parks

2009-09-09T05:45:00.000-07:00

BASINGSTOKE WINS BEST OFFICE AWARD

Basingstoke newest office building, Central 40 at Chineham Park, has been announced as the winner of the Commercial Workplace Award in the British Council for Offices (BCO) South West and South Wales category.

Established in 1990, the British Council for Offices is Britain's leading forum for the discussion and debate of issues affecting the office sector and their awards scheme is recognised as the pre-eminent benchmark for measuring excellence in workplaces. The awards programme also acknowledges innovation and focuses external attention on examples of best practice.

For more visit:

http://www.buildingdesign-news.co.uk/2009/21-MEPC-Chineham-Park-Sustainable-business-community-180509.asp

http://www.mepc.com

Offices To LET / RENT

2009-09-09T05:42:00.000-07:00

Next stage of development ready at Callaghan Square
The National Grid UK Pension Scheme has bought buildings 3 and 4 at Callaghan Square. In May 2009 MEPC obtained planning consent for another 500,000 sq ft and is in discussions with occupiers for a major pre-let. James Dipple, Director, said, ‘The sale of these two prime office buildings is a continuation of our strategy for Callaghan Square’.

For more information contact jdipple@mepc.com

MEPCs Sustainability Results

2009-08-12T04:12:00.001-07:00

We have an outstanding track record of responsible management and development of large Business Estates and we continue to progress our sustainability agenda.

We hope you find our results interesting and informative, please download these from our dedicated sustainability website

MEPC is shortlisted for BIFM award

2009-08-12T04:11:00.000-07:00

MEPC is delighted to have made it through to the next stage of the British Institute for Facilities Management award for its Sustainability and Environmental Impact Award. The award winner will be announced in London later this year.

MEPC invests £1m into Wellington Place

2009-08-12T04:10:00.000-07:00

MEPC opens up Wellington Place to become a green space that includes urban gardens, sports facilities and landscaped walkways.

Rick de Blaby, Chief Executive comments "Too many developers across the country seem content to leave large, undeveloped sites, often in the centre of cities, looking unattractive and rendered redundant. We are in the business of creating sustainable estates with exceptional public realm that are great places to live and work. By opening up the site now, we are laying firm foundations for Wellington Place to become a valuable and vibrant area of the city"

MEPC completes London2Brighton Bike Ride

2009-08-12T04:08:00.000-07:00

Rick de Blaby, Rachel Page, Richard Hawkes and Paul Pavia took part in this years London2Brighton bike ride raising over £2000 for the British Heart Foundation.

Industrial Estates | Warehousing | Industrial Units

2009-06-27T02:40:00.000-07:00

Are you looking for Warehouse space or Industrial units across the UK? Do you want your warehousing and industrial space on prime business and industrial estates with great access to local transport hubs?
If so then MEPC could have just the industrial estate for your business to grow and prosper!
We currently have a varity of Warehouses and Industrial units to let, from 2,000 to over 100,000 sq ft of warehousing and industrial quality space with great facitlites.

To see our Industrial Estates click the link.

Investor in People accredits MEPC

2009-05-20T03:23:00.000-07:00

MEPC is delighted to have been accredited by Investor in People

Rick de Blaby comments 'We are thrilled to have been accredited by Investor in People, we are a focused team and this is key to enhancing our reputation, our strategy is to continually invest in our people and maximise their potential'

MEPC wins British Council for Offices Award!

2009-05-20T03:15:00.000-07:00

MEPC is delighted to have been awarded the Regional Commercial Workplace for South West England and South Wales from the British Council for Offices!

James Dipple, MEPC Development Director comments 'This is a fantastic result for MEPC and confirms our position as a leader in our field as we continue to focus on providing quality and excellence for our customers'

Award Won: Commercial Workplace Award: Central 40, Chineham Park, Basingstoke

MEPC Let two floors of Offices in 5 Callaghan Square to Deloitte!

2009-05-06T05:27:00.000-07:00

This 18,900 sq ft letting is a further stage in the successful project following on from British Gas taking occupation of 4 Callaghan Square.

3 Callaghan Square is fully occupied to British Transport Police, the Commission for Equality and Human Rights, Lambert Smith Hampton and Scott Brownrigg amongst others.

James Dipple, Director of MEPC says "We are delighted to welcome Deloitte to our Callaghan Square scheme which reinforces our belief that this is the best space in the City.”

offices to let cardiff

Wellington Place Leeds Given The Go Ahead

2009-05-06T05:12:00.000-07:00

Plans for Wellington Place have been given the go ahead - For more information and comment from Rick de Blaby, watch the BBC coverage here: http://news.bbc.co.uk/1/hi/england/8000464.stm

Or click to visit the Wellington Place, Leeds website

A message from the MEPC chief executive: Rick de Blaby

2009-04-06T03:55:00.001-07:00

New Offices To Let/Rent - The Arc's attraction for Hillington

2009-03-03T01:50:00.000-08:00

A distinctive and attractive development of seven single-storey office suites to let/rent has just been completed at Hillington Park, demonstrating MEPC’s confidence by providing quality offices accommodation during a difficult time in the market.

The Arc, a £4 million development by MEPC, is a curved terrace of office accommodation on one level, ranging from 2,458 sq ft to 3,851
sq ft.

Grant Edmondson, managing director of MEPC Hillington Park, said:

"We are committed to providing office space of a price and quality at the Estate which the occupier market demands. We expect The Arc to continue our long-held experience that, with the right range of accommodation and a flexible customer-focused approach, MEPC can retain growing businesses at Hillington Park over the long term."

Offices to Let

MEPC scoops RPI award

2009-02-06T07:19:00.000-08:00

MEPC kept the award count ticking over and continued to build on last year’s success at the 15th Annual RPI Awards in London last Friday 7th November.

MEPC won the best Commercial RPI Initiative for Birchwood Park's Community Support and Engagement. It is 10 years since MEPC acquired Birchwood, which is now Warrington’s leading Business Park and a place of work for over 4,200 people.

Jonathan Walsh, Managing Director of Birchwood Park Estate and Warrington Business Person of the Year winner in September said "It is great that Birchwood’s innovative park is being recognised as the most forward thinking in the country. It is a thriving business community and will continue to flourish."

Welcome to the MEPC Blog

2009-02-06T06:10:00.000-08:00

Welcome to the MEPC blog! so who are MEPC?

MEPC has been a prominent name in UK commercial property for more than 60 years. We have an outstanding track record of responsible management and development of large Business Estates.

Throughout our history, we’ve succeeded by applying the same principles of sustainability to our relationships with our customers, investors, employees and local communities. The result is a value that everyone can share.

We have unrivalled experience in accommodating the needs of business and people. Our tradition is to build with the future in mind, from innovative new developments to adaptable spaces that can answer changing requirements.

We look after what we build too. Ongoing refurbishment, proactive building management and leadership in environmental practice demonstrate our commitment to continuous improvement.

We’ve built our reputation on understanding customers’ needs. We’ve always recognised the need to give our customers the best platform for success, not just for today but for tomorrow as well.